MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
FARMSON PHARMACEUTICAL GUJARAT PRIVATE LIMITED FARMSON ANALGESICS UNIT OF FARMSON PHARMACEUTICAL GUJARAT PRIVATE
LIMITED |
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|
|
|
Registered
Office : |
28 – 35, GIDC, Industrial Estate Nandesari, Baroda – 391 340, Gujarat |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
15.02.1974 |
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Com. Reg. No.: |
04-002467 |
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Capital
Investment / Paid-up Capital : |
Rs. 28.864 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230GJ1947PTC002467 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACF3358B |
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|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Pharmaceutical Products. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1652000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a part of “FARMSON GROUP.” It is a well established company having a satisfactory track record. There
appears dip in its sales turnover and profitability during the currect year. However, general financial position seems to be good. Company gets
strong support from its group companies. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct and as per commitments. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of
financial obligation. It carry moderate credit risk. |
|
Date |
October 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Factory : |
28 – 35, GIDC, Industrial Estate Nandesari, Baroda – 391 340, Gujarat,
India |
|
Tel. No.: |
91-265-2840376/2840612 |
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Fax No.: |
91-265-2841377 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kalyanji Kanjibhai Vithani |
|
Designation : |
Managing Director |
|
Address : |
11, Shreyas Society Race Course Circle, Baroda – 390 007, Gujarat,
India |
|
Date of Birth/Age : |
01.10.1934 |
|
Date of Appointment : |
08.08.1980 |
|
DIN No.: |
00194278 |
|
|
|
|
Name : |
Mr. Pranav Jagdishbhai Patel |
|
Designation : |
Director |
|
Address : |
18170, Chieftain CT, San Diego CA 92127, USA – 92127 |
|
Date of Birth/Age : |
22.07.1977 |
|
Date of Appointment : |
01.04.2005 |
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DIN No.: |
00271146 |
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|
|
|
Name : |
Mr. Narshibhai Kalubhai Patel |
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Designation : |
Director |
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Address : |
B – 31, Appunagar Society, Near GEB Sub Station, Gotri Road, Vadodara
– 390 021, Gujarat, India |
|
Date of Birth/Age : |
18.10.1953 |
|
Date of Appointment : |
27.06.2011 |
|
DIN No.: |
00194429 |
|
|
|
|
Name : |
Mr. Harishchandra Nagjibhai Patel |
|
Designation : |
Director |
|
Address : |
2266 N, Rockridge PL, Orange CA 92867, USA |
|
Date of Birth/Age : |
02.01.1955 |
|
Date of Appointment : |
27.06.2011 |
|
DIN No.: |
03589463 |
|
|
|
|
Name : |
Mr. Samir Kalyanji Patel |
|
Designation : |
Additional Director |
|
Address : |
11, Shreyas Society, Race Course, Vadodara – 390 007, Gujarat, India |
|
Date of Birth/Age : |
14.09.1970 |
|
Date of Appointment : |
02.04.2012 |
|
DIN No.: |
05271555 |
KEY EXECUTIVES
|
Name : |
D. N. Nandania and Associates |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kalyanji K. Vithani |
|
219384 |
|
Pranav J. Patel |
|
17019 |
|
Jiten J. Patel |
|
17013 |
|
Ghanshyam J. Patel |
|
16965 |
|
Urmilaben J. Patel |
|
18259 |
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|
|
|
|
TOTAL |
|
288640 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceutical Products. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
·
State Bank of India, Natubhai Circle Branch,
Gotri Road, Vadodara – 390 007, Gujarat, India ·
HDFC Bank Limited ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution: |
Sundaram Finance Limited, Tamilnadu, India |
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Auditors : |
|
|
Name : |
K. C. Mehta and Company Chartered Accountants |
|
Address : |
2nd Floor, Meghdhanush, Race Course, Vadodara – 390 007,
Guajarat, India |
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PAN No.: |
AABFK1558J |
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Associate Concern
: |
·
JNP Products ·
V- Chem |
CAPITAL STRUCTURE
As on 29.09.2012
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 100/- each |
Rs. 50.000 millions |
|
|
|
|
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|
|
|
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
288640 |
Equity Shares |
Rs. 100/- each |
Rs. 28.864
millions |
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|
|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010
|
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
28.864 |
21.651 |
21.651 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
384.280 |
303.297 |
209.473 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
413.144 |
324.948 |
231.124 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
418.078 |
242.456 |
82.460 |
|
|
2] Unsecured Loans |
43.230 |
24.555 |
24.555 |
|
|
TOTAL BORROWING |
461.308 |
267.011 |
107.015 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
874.452 |
591.959 |
338.139 |
|
|
|
|
|
|
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|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
171.692 |
192.500 |
189.273 |
|
|
Capital work-in-progress |
369.038 |
141.753 |
101.376 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
8.042 |
4.849 |
(0.500) |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
35.464
|
29.829 |
21.026 |
|
|
Sundry Debtors |
151.189
|
190.749 |
145.043 |
|
|
Cash & Bank Balances |
77.118
|
15.426 |
14.737 |
|
|
Other Current Assets |
0.642
|
1.199 |
0.000 |
|
|
Loans & Advances |
152.427
|
140.014 |
58.514 |
|
Total
Current Assets |
416.840
|
377.217 |
239.320 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.784
|
91.038 |
169.189 |
|
|
Other Current Liabilities |
18.950
|
26.954 |
14.269 |
|
|
Provisions |
1.426
|
6.368 |
7.872 |
|
Total
Current Liabilities |
91.160
|
124.360 |
191.330 |
|
|
Net Current Assets |
325.680
|
252.857 |
47.990 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
874.452 |
591.959 |
338.139 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1335.627 |
1392.734 |
1267.867 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL (A) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
72.168 |
189.707 |
164.624 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.171 |
11.373 |
11.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
57.997 |
178.334 |
152.953 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.410 |
39.725 |
29.135 |
|
|
|
|
|
|
|
|
|
Add |
Prior Period
Income / (Expenditure) |
0.000 |
0.000 |
0.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE TAX (E-F) (G) |
21.587 |
138.609 |
124.054 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.307 |
44.750 |
43.784 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX (G-H) (I) |
15.280 |
93.859 |
80.270 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
260.156 |
166.297 |
77.366 |
|
|
|
|
|
|
|
|
|
Add |
Balance transferred from Amalgamating Company |
0.000 |
0.000 |
8.661 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
275.436 |
260.156 |
166.297 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss) Per Share (Rs.) |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.61
|
9.95 |
9.78 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.66
|
24.33 |
28.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.43 |
0.54 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.11
|
0.82 |
0.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.57
|
3.03 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
|
|
|
|
Loans repayable on demand |
43.230 |
0.000 |
|
Loans and advances from related parties |
0.000 |
24.555 |
|
|
|
|
|
TOTAL |
43.230 |
24.555 |
SALES AND MANUFACTURING OPERATIONS:
During the year, the
Company achieved sales of Rs. 1335.626 millions as against Rs.1392.733 millions
of the previous year. The Company has earned net profit of Rs. 15.279 millions
as against Rs. 93.859 millions of the previous year. The Directors hope to do
well in current year.
CONTINGENT
LIABILITY
Contingent Liability not provided for, in respect of: -
(Rs.
in millions)
|
PARTICULARS |
31.03.2012 |
|
|
|
|
Guarantee given by
the banks for which the Company has given Counter Guarantee |
198.178 |
|
Letter of Credit |
28.114 |
|
Income Tax |
13.066 |
|
|
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24230GJ1974PTC002467 |
|
Name of the
company |
FARMSON
PHARMACEUTICAL GUJARAT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
28-35 GIDC
Industrial Estate, Nandesari, Baroda – 391340, Gujarat, India e-mail: finance@farmson.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10121971 |
|
Type of charge |
Immovable
Property Any interest in
immovable property |
|
Particular of
charge holder |
State Bank of
India, Natubhai Circle Branch, Gotri Road, Vadodara – 390 007, Gujarat, India e-mail: sbi.60195@sbi.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum
relating to Deposit of Title Deeds for Creation of further Charge for Term
Loan / Overall limit where the initial charge is created by way of Mortgage
by Deposit of Title Deeds. |
|
Date of
instrument Creating the charge |
11.01.2013 |
|
Amount secured by
the charge |
Rs. 804.700
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest For CC- 2.75%
above BR effective 12.50 %, TLI and II-(existing)2.90%above BR, Effective
12.65 %, TL-III- (new) 2.95 % above BR, effective 12.70% and CTL-3.50% above
BR -13.25%. This is
collateral Charge. Terms of Repayment (1) CC- Repayable
on demand subject to yearly review. All the Term Loans are repayable in
monthly installment (2)TL-I and II-
o/s Rs. 329.900 Millions- Rs. 7.200 Millions (October 12 to Aug.16) and Rs. 5.900 Millions (September
16). (3)TL-III of Rs.
50.000 Millions- Rs 65.000 Millions (July 14 to March 18), Rs. 0.750 Millions
(April 18 to March 19) and Rs. 0.975 Millions (April 19 to February 20) and
last Rs. 1.025 Millions (March 20). (4)CTL- Rs.
50.000 Cr - Rs.1.200 Millions (January 13 to March 13) Rs. 0.600 Millions
(April 13 to September 13), Rs. 1.200 Millions (October 13 to September 14)
Rs 2.400 Millions (October 4 to August 15) and Rs. 0.500 Millions (September
15 to December 15). Margin 20.00 % on Raw
Materials, Stock in process, Finished goods 30.00 % on
Receivables (Over 90 days) 10.00 % on EPC,
Letter of Credit, BG 19.09 % on TL-III
(for ETP plant) Extent and Operation of the charge This is first and
exclusive charge by State Bank of India over all assets, property of the
Company. This charge
includes Cash Credit Rs.130.000 Millions, TL- I and I I Rs.487.500 Millions,
TL- III Rs. 50.000 Millions., CTL- Rs. 50.000 Millions. Letter of Credit-
Rs. 80.000 Millions, Bank Guarantee Rs. 5.000 Millions., CEL - Rs. 2.200
Millions secured by hypothecation of all assets and goods of the Company. |
|
Short particulars
of the property charged |
·
Plot
No. 28 and 29 of Registration dist. Vadodara, Sub dist. Vadodara, Village
Nandesari, Survey No. 609 with construction of shed and compound having area 755
Sq. Meters and 697 Sq. Meters respectivlly; ·
Plot
No. 30 and 31 of Regn. dist. Vadodara, Sub dist. Vadodara, Village Nandesari,
Survey No. 609, 644 with construction of shed and compound having area 697
Sq. Mtrs. and 1294.5sq. Mtrs respectivlly; ·
Plot
No. 32 and 33 of Regn. dist. Vadodara, Sub dist. Vadodara, Village Nandesari,
Survey No. 609, 644 with construction of shed and compound having area 866
Sq. Mtrs. and 699.56 sq. Mtrs respectively; ·
Plot
No. 34 and 35 of Regn. dist. Vadodara, Sub dist. Vadodara, Village Nandesari,
Survey No. 609, 644 with construction of shed and compound having area 697
Sq. Mtrs. and 755 sq. Meters respectively; ·
Plot
No. 14 of Regn. Dist. Vadodara, Sub dist. Vadodara, Village Nandesari, Survey
No. 162/1/P, 162/2, 162/3/P, 162/4/P, 177/P, 163/P, 159/1/P, 159/2/P,
159/3/P, 159/4/P, 159/5/P, 159/8/P, 160/P, 161/2,3,4P and 154/3/P containing
by admeasurments 28614.91 Sq. Mtrs. ·
Plot
No. 83-A and 83-B, Registration Dist. vadodara, Sub Dist. Vadodara, Village Nandesari,
Survey No. 601/2A of Vadi Vadi, City Survey No. 7/24/216, District Vadodara
in Name of Samirbhai K. Patel. ·
All
the piece and parcel of property at
Block -A on the 06th Floor, Commerce Centre, Sayajiganj, Vadodara
owned by Shri Kalyanji Kanjibhai Vithani ·
All
piece and parcel of property at R. S No. 429 paikee 312 Tikka No. 31/1/2
adms. 6750 Sq. Fts at Block B, 06th Floor, Commerce Centre owned by Vijyaben
K. Patel ·
All
the piece of land known as Plot No. 748/1 in Jhagadia Industrial Estate
admeasuring 26000 Sq. Mtrs owned by JNP Products. |
|
Date of latest
modification prior to the present modification |
01.07.2011 |
|
Particulars of
the present modification |
The Charge is
being enhanced from Rs. 664.000 millions to Rs. 804.700 millions. Thus the
overall charge stands modified to Rs. 804.700 millions. |
FIXED ASSETS
·
Leasehold Land
·
Freehold Land
·
Building
·
Staff Quarter
·
Plant and Machinery
·
Electrical Installation
·
Pollution Control
Equipment
·
Laboratory Equipments
·
Office Equipments
·
Vehicles
·
Furniture and Fixtures
·
Tankers
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.29 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.